B-1 AGREEMENT System Generated e-Tender No ... - e-Tendering

114 Dy. Executive Engineer
CHAPTER – IV
(On stamp paper worth Rs. 50/-)
MODEL FORM OF BANK GUATANTEE BOND
In consideration of the Governor of Maharashtra (here in after called “The Government”) having
agreed to exempt ______________________________ (here in after referred to as “The Contractor”)
from depositing with the Government in cash the sum of Rs. ______________ (Rupees___________
_____________________________________________ Only) being the amount of security deposit
payable by the Contractor to the Government under the terms and conditions of the agreement dated
the _______________ day of __________ and made between the Government of the on part and the
Contractor of the other part (here in after referred to as “the said agreement”) for _______ as security
for the observance and performance by the Contractor of the terms and conditions of the said
Agreement, on the contractor furnishing to the Government and guarantee in the prescribed form of a
Schedule Bank in India being in fact these presents in the like sum of Rs.________ (Rupees_______
______________________________________ Only). We __________________________________
BANK/LIMITED registered in India under __________________ Act and having one of our local Head
Office at _________________ do hereby:
1. Guarantee to the Government:
a) Due performance and observance by the Contractor of the terms. Covenants and conditions
on the part of the contractor contained in the said Agreement and
b) Due and punctual payment by the Contractor to the Government of all sums of money,
losses, damages, cost charges, penalties and expenses payable to the Government by the
Contractor under or in respect to the said agreement.
2. Undertake to pay to the Government on demand and without demand and not withstanding
any dispute or disputes raised by the Contractor(s) in any suit or proceeding filed in any court
or tribunal relating there to the said sum of Rs._________ (Rupees__________________
___________________________Only) or such less may be demanded by the Government
from us our liability hereunder being absolute and unequivocal and agree that.
3. a) The guarantee herein contained shall remain in full force and effect during the subsistence
of the said agreement and the same will continue to be enforceable till all the dues of the
Government under or by virtue of the said agreement have been duly paid and its claims
satisfied or discharged and till the Government certifies that the terms and conditions of the
said agreement have been fully, properly carried out by the Contractor.
b) We shall not be discharged or released from the liability under this guarantee by reason of:
i) Any change in the constitution of the bank or the Contractor or ;
ii) Any arrangement entered in between the Government and the Contractor
with or without our consent ;
iii) Any forbearance or indulgence shown to he Contractor ;
iv) Any variation in the terms convenants or contained in the said agreement;
v) Any time given to the Contractor ;
vi) Any other conditions or circumstance under which, in law, a surety would be
discharged ;
c) Our liability here under shall be joint and several with that of the Contractor as if we
were principal debtors in respect of the said sum of Rs.____________(Rupees_____
________________________________________________ Only. ) and
d) We shall not revoke this guarantee during its currency except with the previous
consent in writing of the Government. IN WITNESS WHERE OF the common seal of
________________ has been herein to affixed this ________ day of _____2013.
The common seal of __________________________________ was pursuant to the
resolution of the Board of Directors of the company dated the _____________ day
of ____________________ herein affixed in the presence of who, in token thereof,
have here to set their respective hands in the presence of.
1. __________________________
2. __________________________
Signature of Contractor No. Of Corrections Executive Engineer